Van ECK Associates Corp Grows Stake in Public Storage $PSA

Van ECK Associates Corp lifted its position in Public Storage (NYSE:PSA) by 2.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 132,352 shares of the real estate investment trust’s stock after buying an additional 3,264 shares during the period. Van ECK Associates Corp’s holdings in Public Storage were worth $42,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Public Storage during the second quarter worth about $5,495,077,000. Norges Bank purchased a new stake in shares of Public Storage in the 4th quarter valued at about $1,163,751,000. Capital International Investors raised its holdings in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Public Storage during the 2nd quarter valued at about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Public Storage during the 2nd quarter valued at about $558,904,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $313.65 on Friday. The company has a 50-day simple moving average of $322.34 and a two-hundred day simple moving average of $307.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The firm has a market cap of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.69 and a beta of 0.96.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities analysts forecast that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PSA shares. BNP Paribas Exane upped their price objective on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Citigroup lifted their target price on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. boosted their price target on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. BMO Capital Markets increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Finally, Truist Financial raised their price objective on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average price target of $326.16.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.